4 of the Most Important Business lessons
Monetizing your blog is hard work, but isn't that the point? If you're only trying to blog full-time to make a quick buck you:
- Are sadly mistaken
- Won't put in the necessary work ethic, so you won't make much money anyway
Monetizing your blog is a true skill. It takes a certain amount of dedication, willingness to learn, and passion to truly do professionally. Learning ways to monetize in a professional way is where the big bucks are.
Here a few lessons you MUST know as a creative when it comes to increasing the income of your business:
As a creative, you dedicate more than 40 hours a week to your business. You are only hurting yourself if you don't think more strategically about HOW you spend those hours.
Strategy isn't writing a blog post every day just to make sure you have one published and hoping a big group of people will read it. Strategy is finding your target audience, figuring out what it is they need to know, breaking that information into very specific blog posts, and creating a marketing strategy to make sure the post reaches your target audience.
Every time you create content, it should have a strategic plan to go with it.
Thinking strategically not only saves you time, but it also increases your income when you have an entire plan mapped out for your monetary goals, instead of just creating content, promoting it, and hoping for the best.
Diversify your income
You shouldn't rely on one form of income. The simplest way to do this is to separate your income between active and passive.
Active income is income that takes actual action to make money, such as coaching, consulting, workshops, etc.
Passive income is basically the money you make while you sleep. This can be creating a product and allowing it to sell itself, such as ebooks, physical books, e-courses, etc. Or you can make passive income with things that you don't necessarily have to create, such as affiliate links.
Singers don't make money just from singing. They become ambassadors for large companies, create products, perform at concerts, and get paid for appearances.
Diversifying your income makes getting to those goals we talked about in the strategic section a little faster to accomplish, considering you have more than one means of income.
A true professional invests back into their business. A lot of people assume that when they invest into their business that it only consists of them putting money into it. What most creatives don't realize is that it is actually MAKING you money.
For example, let's say you invest in a course to help you find more clients. You make more money when you have more clients purchasing your services.
Investing in your business is one of the best things you can do when trying to monetize.
It's important that you make it clear to your readers what you do and why they should hire you to do it.
People can't buy your products if they aren't clear on what exactly they should be learning from you. People can't hire you for your services if they aren't clear on how you'll be helping them.
You need to communicate to your readers what exactly your specialty is. Let them know what you're an expert in.
What you do should be as clear as what some of the most famous celebrities clearly communicate. Such as:
- Beyoncé is a singer
- Naomi Campbell is a model
- Angelina Jolie is an actress
There is no question that any of those statements are not true, because each celebrity has made it clear about what their expertise is and have proven their qualifications to gain the title.
This brings me to my next point: WHY should your readers buy from you? Why are you qualified to teach them within this specific field? What makes you the kind of professional expert they want to spend their money on?
Always be clear about your qualifications, and always make it a point to show your expertise. Your blog is like your resume.